NBEV Weekly Analysis

NBEV formed a high 2 bull flag last week which has triggered this week. Although the signal bar is a small inside bull doji, and the past 8 or so weeks have been in a tight trading range. Prices are also in the middle of a large developing trading range, making the probability 50/50. This decreases the probability of a strong breakout without a pullback first. There is a micro gap at 4.50, but the only significant gap is at 3. This market is also mostly sideways in a bull flag trading range, with building selling pressure. However there has not yet been a strong and clear bear reversal.